3 new shares billionaire investor Seth Klarman bought
American billionaire investor Seth Klarman is widely regarded as one of the world’s most successful and respected fund managers.
With a career spanning over three decades, Klarman has built a reputation as a disciplined and value-driven investor.
He is known for his rigorous research process, long-term investment horizon, and focus on risk management.
Born in 1957, Klarman attended Cornell University and later Harvard Business School, where he studied under legendary value investor Benjamin Graham.
After graduating, he worked briefly for Mutual Shares before founding his own investment firm, The Baupost Group, in 1982.
Over the years, Baupost has grown into one of the world’s largest and most successful hedge funds, with over $30 billion in assets under management.
Despite his remarkable track record, Klarman remains relatively unknown outside of investment circles. He eschews publicity and rarely grants interviews.
Klarman’s investment philosophy is rooted in the teachings of Benjamin Graham, the father of value investing.
He believes that a margin of safety is essential for any investment and that it is possible to find undervalued securities in any market environment.
Klarman is also known for his long-term approach to investing, often holding positions for several years and waiting for the market to recognise the underlying value of his investments.
This approach has paid off in spades for Klarman and his investors. Since the founding of The Baupost Group in 1982, the firm has achieved an annualised return of 19%.
The firm’s success has been driven by Klarman’s ability to identify opportunities where others see risk and his willingness to hold positions for extended periods.
Seth Klarman’s portfolio
In 2023, Klarman added three new shares to the Baupost Group portfolio – Skyworks Solutions, Jazz Pharmaceuticals, and Seagate Technology.
He also pumped more money into Google owner Alphabet, Fidelity National Information Services, and Finch Therapeutics Group.
The table below shows how the Baupost Group portfolio changed in Q1 2023.
| Stock | Portfolio Percentage | Change | Value |
| LBTYK – Liberty Global Inc. C | 17.31 | No change | $968,138,000 |
| GOOG – Alphabet Inc. CL C | 10.88 | Add 46.50% | $608,585,000 |
| VSAT – Viasat Inc. | 9.86 | No change | $551,218,000 |
| QRVO – Qorvo Inc. | 8.44 | Reduce 18.88% | $472,250,000 |
| VRTV – Veritiv Corp. | 8.03 | No change | $449,249,000 |
| LSXMK – Liberty SiriusXM Series C | 7.43 | Add 8.79% | $415,681,000 |
| WBD – Warner Bros. Discovery Inc. | 6.81 | Reduce 18.60% | $381,050,000 |
| FIS – Fidelity National Information Services | 4.7 | Add 124.67% | $263,041,000 |
| LSXMA – Liberty Sirius XM Series A | 4.11 | Add 6.51% | $229,710,000 |
| EDU – New Oriental Education & Technology | 3.74 | Reduce 6.47% | $209,219,000 |
| WTW – Willis Towers Watson plc | 3.57 | Reduce 32.96% | $199,537,000 |
| SSNC – SS&C Technologies Holdings Inc. | 3.31 | Reduce 13.21% | $184,907,000 |
| LBTYA – Liberty Global Inc. | 2.51 | No change | $140,288,000 |
| TBPH – Theravance Biopharma Inc. | 2.02 | Reduce 8.76% | $113,049,000 |
| SWKS – Skyworks Solutions Inc. | 1.48 | Buy | $83,042,000 |
| JAZZ – Jazz Pharmaceuticals plc | 1.25 | Buy | $70,048,000 |
| FISV – Fiserv Inc. | 1.08 | Reduce 73.36% | $60,288,000 |
| GTN – Gray Television Inc. | 0.59 | Add 7.12% | $32,787,000 |
| HLF – Herbalife Nutrition Ltd. | 0.56 | Reduce 2.29% | $31,463,000 |
| GTX – Garrett Motion Inc. | 0.49 | No change | $27,385,000 |
| ATRA – Atara Biotherapeutics Inc. | 0.47 | Add 12.31% | $26,458,000 |
| ADV – Advantage Solutions Inc. | 0.3 | No change | $17,032,000 |
| ATUS – Altice USA, Inc. | 0.29 | Add 23.05% | $16,329,000 |
| LAD – Lithia Motors Inc. | 0.27 | Reduce 73.98% | $14,890,000 |
| DBRG – DigitalBridge Group Inc. | 0.26 | Reduce 61.46% | $14,795,000 |
| STX – Seagate Technology | 0.16 | Buy | $8,997,000 |
| TMQ – Trilogy Metals Inc. | 0.04 | Reduce 46.54% | $2,277,000 |
| FNCH – Finch Therapeutics Group Inc. | 0.01 | Add 98.13% | $793,000 |
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